Davide Rimini, an analyst from Intesa Sanpaolo, maintained the Buy rating on Altea Green Power S.p.A. (AGP – Research Report). The associated price target is €12.00.
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Davide Rimini has given his Buy rating due to a combination of factors that highlight Altea Green Power’s strong financial performance and strategic positioning. The company has demonstrated impressive growth in its fiscal year 2024 results, with significant increases in both revenue and EBITDA, indicating effective management strategies and a strong foothold in the emerging BESS Storage market in Italy.
Furthermore, Altea Green Power’s momentum is expected to continue, as evidenced by the acceleration in revenue growth in the fourth quarter of 2024 and a robust order backlog, primarily driven by lucrative BESS Storage projects. The company’s positive earnings outlook, supported by a substantial co-development pipeline and strategic investments, underpins the revised revenue and EBITDA estimates for 2025 and 2026. These factors, along with a favorable adjustment in the discount rate assumptions, contribute to a higher target price, reinforcing the Buy recommendation.